The impact of Lehman Brothers on Romanian banks listed on BVB
AbstractThe current economic crisis was defined by analysts as the worst financial crisis since the Great Depression of the 30’s, countries under development being confronted with an accelerated reduction in the economic growth and labor force, negative impact on the commercial balance sheet and balance of payments, severe drop of private net capital flows and direct external investments, reduced access to loans and trade financing, exchange rate fluctuations, reserve meltdown, increased volatility and price decrease for stocks. In this paper, we try to identify if there is an impact of Lehman Brothers stock on Romanian banking stocks listed on Bucharest Stock Exchange. We can say that a significant impact on reducing Romanian banks securities was prompted by the economic situation (financial crisis international) and less by U.S. bank, Lehman Brothers, bankruptcy.
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Bibliographic InfoArticle provided by University of Craiova, Faculty of Economics and Business Administration in its journal Finance - Challenges of the Future.
Volume (Year): 1 (2010)
Issue (Month): 12 (December)
Romanian banks; Lehman Brothers collapse; ARCH/GARCH model;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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